"The application-specific permission settings do not grant Local Activation permission for the COM Server application with CLSID {61738644-F196-11D0-9953-00C04FD919C1} to the user NT AUTHORITY\NETWORK SERVICE SID (S-1-5-20). This security permission can be modified using the Component Services administrative tool."

The application pool security account was set to "NETWORK SERVICE". The specified error occurring because the NETWORK SERVICE does not have Local Activation Access to IIS WAMREG admin Service DCOM.

Fix#1 Change the security account or change the permissions. Chang TO "Local System" (the default account) worked. This security permissions FOR network service can be modified using the Component Services administrative tool.